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Union Township authorizes up to $4.72M lease-purchase to expand municipal fiber
Summary
The committee authorized a lease-purchase agreement with NCL Government Capital for phase 2 of the township's fiber-optic connectivity project at a fee not to exceed $4,720,000; the motion passed by voice vote.
The Union Township Committee authorized execution of a lease purchase agreement with Lease Servicing Center Inc., doing business as NCL Government Capital, to finance phase 2 of the township's fiber-optic connectivity project for an amount not to exceed $4,720,000.
Township Clerk described the purpose and the dollar amount: "An agreement ... for the township at a fee not to exceed $4,720,000." The motion to approve the lease purchase was made and seconded and carried by voice vote.
The transcript records the dollar amount and the vendor; no detailed payment schedule or fiscal analysis was read into the record during this meeting. Implementation and assignment were not discussed in detail beyond authorizing execution of the agreement.
